Rats fleeing from a sinking ship: ETH to $500!

ETH will fall by a larger percentage than BTC because many people bought ETH only because it was falling slower than BTC (or at times even rising while BTC was falling). Rats fleeing a sinking ship aren't reliable support; they will be the first ones to dump during a crash. This was confirmed by COINBASE:ETHBTC falling rapidly after BTC broke below 9k.

Given BTC continues falling and breaks below the vital 8k support, we have our eyes on the $700 and $500 areas. Our two targets are chosen because they coincide with major Fib support levels, are major areas of support where price consolidation occurred, and because of their psychological significance.